
Bain Capital and Cinven agreed to acquire Lonza Group AG’s specialty ingredients unit, bringing to a close one of the most hotly contested sales in European chemicals.
The deal is worth 4.2 billion Swiss francs ($4.7 billion), including debt, according to a statement Monday, confirming a Bloomberg News report. The transaction, scheduled to close in the second half of 2021, will refocus Lonza as a pure-play partner to the health-care industry, and the cash flow from the sale will accelerate its strategic priorities, the company said.
“Today’s announcement is the result of a comprehensive and robust selection process,” Lonza Chairman Albert M. Baehny said in a statement. “Bain Capital and Cinven have shown they understand the value of the experience and expertise of our specialty ingredients employees. They presented the most compelling industrial strategy and vision for the business.”
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